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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
KANDA SHOKAI CORPORATION |
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Registered Office : |
Kanda Shokai Bldg, 3-4-2 Kanda-Kajicho Chiyodaku Tokyo 101-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
August 1948 |
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Com. Reg. No.: |
0100-01-013586 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of musical instruments |
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No. of Employees : |
85 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry
cooperation, a strong work ethic, mastery of high technology, and a
comparatively small defense allocation (1% of GDP) helped Japan develop a
technologically advanced economy. Two notable characteristics of the post-war
economy were the close interlocking structures of manufacturers, suppliers, and
distributors, known as keiretsu, and the guarantee of lifetime employment for a
substantial portion of the urban labor force. Both features are now eroding
under the dual pressures of global competition and domestic demographic change.
Japan's industrial sector is heavily dependent on imported raw materials and
fuels. A small agricultural sector is highly subsidized and protected, with
crop yields among the highest in the world. While self-sufficient in rice
production, Japan imports about 60% of its food on a caloric basis. For three
decades, overall real economic growth had been spectacular - a 10% average in
the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth
slowed markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Modest economic growth continued after 2000, but the
economy has fallen into recession three times since 2008. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake and the ensuing tsunami in March disrupted
manufacturing. The economy has largely recovered in the two years since the
disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 stood as the fourth-largest economy in the world after second-place
China, which surpassed Japan in 2001, and third-place India, which edged out
Japan in 2012. The new government will continue a longstanding debate on restructuring
the economy and reining in Japan's huge government debt, which exceeds 200% of
GDP. Persistent deflation, reliance on exports to drive growth, and an aging
and shrinking population are other major long-term challenges for the economy.
Source
: CIA
KANDA SHOKAI CORPORATION
REGD NAME: KK
Kanda Shokai
MAIN OFFICE: Kanda
Shokai Bldg, 3-4-2 Kanda-Kajicho Chiyodaku Tokyo 101-0045 JAPAN
Tel:
03-3254-3641 Fax: 03-3254-3618
URL: http://www.kandashokai.co.jp
E-Mail address: (thru the URL)
Import, wholesale
of musical instruments
Osaka, Sapporo,
Toda
Toda (Distribution
Center)
TSUTOMU YOKOYAMA,
PRES Satoshi Sakurai, rep dir
Shinji Takizawa,
dir Yoshitomo Shigeta,
dir
Naoki Asahi, dir Hirokuni Suzuki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 3,800 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 48 M
TREND SLOW WORTH Yen
1,809 M
STARTED 1946 EMPLOYES 85
TRADING FIRM SPECIALIZING IN MUSICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1946 by father of Tsutomu Yokoyama
in order to make most of his experience in the subject line of business,
on his account. Incorporated in 1948 the
firm has been succeeded by his descendants.
This is a trading firm specializing in import and wholesale of musical
instruments, centering in guitars, other.
Clients include musical instruments shops, wholesalers, other,
nationwide.
Financial are only
partially disclosed as is the case with family-based companies.
The sales volume for Mar/2012 fiscal term
amounted to Yen 3,800 million, a similar amount in the previous term. The net profit was posted at Yen 45 million,
compared with Yen 50 million a year ago.
For the term that ended
Mar 2013 the net profit was projected at Yen 50 million, on a 3% rise in
turnover, to Yen 3,900 million. Final
results are yet to be released.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Aug
1948
Regd No.
0100-01-013586 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 384,000 shares
Issued: 96,000 shares
Sum: Yen 48 million
Major
shareholders (%): Tomotoshi Kojima (15), Kazumasa Kurokawa (13), Music Land
Inc (10), Masayuki Suzuki (9)
No.
of Shareholders: 15
Nothing
detrimental is known as to his commercial morality.
Activities: Imports and
wholesales musical instruments: electric guitars, electric basses, acoustic guitars,
ukuleles, drums & percussion, guitar amplifiers, bass amplifiers,
effectors, music toys, pickups, parts, cases & bags, strings, accessories
(--100%)
Clients: [Music
instruments stores, wholesalers] Ishibashi Music Corp, Shinseido Co, Music Land
Co, Miki Gakki Co, Yamano Music Co, Shimamura Music Co, Ikebe Gakki Co, ESP,
Aviva Co, Suzuki Violin Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kanda Music Trading, Dyna Gakki Co, Hibino Corp, Tokai Gakki,
Suzuki Violin Co, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG
(Kanda-Ekimae)
Mizuho Bank
(Kanda-Ekimae)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
3,900 |
3,800 |
3,800 |
3,800 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
50 |
45 |
50 |
50 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,809 |
1,764 |
1,714 |
|
Capital,
Paid-Up |
|
|
48 |
48 |
48 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.63 |
0.00 |
0.00 |
-5.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.28 |
1.18 |
1.32 |
1.32 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.